Today’s Housing Market is “Sizzling”!

CBS – The housing market is bouncing back in a big way after hitting 30-year lows during the financial crisis. Prices in February were up 5.8 percent over the previous year nationally and were much higher in some metro areas like Dallas and Denver. John Blackstone reports.

It’s very exciting to see the market being described as “sizzling” and “red hot” for one of the first times since 2008. It is also reassuring to hear experts like Ken Rosen say he doesn’t think that this rising market will lead to a bubble like it did in ’08. “It’s a red-hot housing market, but remember it’s bouncing off a 30 year low in home ownership rates that we had in 2016. So people have delayed buying,” said Rosen.

In this CBS report, they mentioned how most realtors across the nation have had more buyers than sellers and we have noticed much of the same in Connecticut.